Empire Asset Investments Follows Tesla As They Rush To Finish Their Gigafactory Way Ahead Of Schedule

Tesla has
doubled the labor force working on its $5 billion high-tech factory in the
Nevada desert, attempting to finish construction on a new and much tighter
schedule, according to a report in The Wall Street Journal.

The
company wants to have the factory ready for the launch of its Model 3, a $35,000
car meant to be a more affordable version of its high-end electric sedans and
sports cars, the paper said.

About
1,000 workers are keeping construction up seven days a week to meet Tesla's new
plan to produce lithium-ion battery cells by early 2017, according to the
report.

Tesla
has been building the factory in phases, and it will be ready to produce
batteries before vehicles. The factory is already producing battery packs, but
Tesla has to buy the actual lithium-ion cells from Panasonic.

Last
week, Tesla Chief Executive Elon Musk released his " Master Plan, Part Deux, " where he outlined
some of his strategies for the company over the next several years.

"What
really matters to accelerate a sustainable future is being able to scale up
production volume as quickly as possible," Musk wrote. "That is why
Tesla engineering has transitioned to focus heavily on designing the machine
that makes the machine — turning the factory itself into
a product."

Tesla has faced problems
meeting consumer demand, and lost two manufacturing executives this year, the
article noted.

With Tesla’s doubling
their labor force and working every possible hour on its $5 billion high-tech
factory I’m positive they will meet their schedule on time, ready to produce
its Model 3 car stated Jane Suki tech analyst for Empire Asset Investments.